Janney Montgomery Scott LLC Sells 97,078 Shares of Sysco Corporation (NYSE:SYY)

Janney Montgomery Scott LLC trimmed its position in Sysco Corporation (NYSE:SYY - Free Report) by 27.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 252,685 shares of the company's stock after selling 97,078 shares during the quarter. Janney Montgomery Scott LLC owned 0.05% of Sysco worth $18,962,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SYY. NorthCrest Asset Manangement LLC lifted its position in shares of Sysco by 4.9% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 2,956 shares of the company's stock worth $226,000 after buying an additional 139 shares during the last quarter. MV Capital Management Inc. lifted its stake in Sysco by 0.4% in the 4th quarter. MV Capital Management Inc. now owns 34,330 shares of the company's stock valued at $2,625,000 after purchasing an additional 144 shares during the last quarter. Morton Community Bank boosted its position in Sysco by 0.4% in the fourth quarter. Morton Community Bank now owns 40,585 shares of the company's stock valued at $3,103,000 after buying an additional 145 shares in the last quarter. Nemes Rush Group LLC grew its stake in shares of Sysco by 5.9% during the fourth quarter. Nemes Rush Group LLC now owns 2,631 shares of the company's stock worth $201,000 after buying an additional 147 shares during the last quarter. Finally, SRS Capital Advisors Inc. increased its holdings in shares of Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock worth $33,000 after buying an additional 149 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SYY shares. Wall Street Zen cut Sysco from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. UBS Group dropped their price target on shares of Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Citigroup initiated coverage on shares of Sysco in a research note on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 price objective on the stock. Wells Fargo & Company lowered their target price on Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Finally, Barclays reduced their price target on Sysco from $87.00 to $77.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, Sysco has an average rating of "Moderate Buy" and an average price target of $83.00.

Sysco Trading Down 0.4%

Shares of SYY stock traded down $0.28 during mid-day trading on Thursday, hitting $73.97. The company's stock had a trading volume of 2,826,164 shares, compared to its average volume of 3,318,992. The company has a market cap of $35.86 billion, a PE ratio of 19.16, a P/E/G ratio of 2.40 and a beta of 0.81. The company has a debt-to-equity ratio of 6.37, a quick ratio of 0.76 and a current ratio of 1.26. The company's fifty day simple moving average is $72.23 and its 200-day simple moving average is $73.64. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $82.23.

Sysco (NYSE:SYY - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing analysts' consensus estimates of $1.02 by ($0.06). The business had revenue of $19.60 billion during the quarter, compared to the consensus estimate of $20.11 billion. Sysco had a return on equity of 107.96% and a net margin of 2.36%. The company's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.96 earnings per share. As a group, equities research analysts expect that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be paid a $0.54 dividend. This is an increase from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco's payout ratio is 52.85%.

Insider Activity

In other news, Director Sheila Talton sold 356 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $70.84, for a total transaction of $25,219.04. Following the completion of the sale, the director now owns 12,738 shares in the company, valued at $902,359.92. The trade was a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.54% of the company's stock.

Sysco Company Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.